CryptionNetwork Has Acquired YugenFinance
CryptionNetwork has acquired YugenFinance with a 70% stake in the emerging DeFi project. 30% is in the circulating supply.
Firstly, yugen finance is a fixed supply bonding Protocol. In short, Yugen Finance is a DeFi-Yield aggregator that uses other underlying protocols such as AAVE, curve as well as yield farming to generate revenue. They also comes with a basic application that can be used on desktop and mobile platforms. This makes Yugen Finance the first DeFi return aggregator that makes money with other platforms.
Yugen Finance currently deployed on Polygon but has plans to move to other blockchains. Farmed tokens from the Yield Farming project are used to buy $YGN tokens, which are then distributed as farm tokens and staking incentives. Vaults and mini-games will be accessible in addition to the main game.
Before this acquisition, both Cryption Network and Yugen Finance were working together as Yugen Finance was using Cryption Network’s flagship product PolyDEX’s services for its operations. Both teams have been working closely for months now to provide industry-grade DeFi services to their customers.
Cryption Network has several future plans for Yugen Finance and it will eventually replace Cryption Capital.
Both $YGN and $CNT tokens will be kept separate until an integration plan is set up.
About Cryption Network
Cryption Network founded and led by a team that has been building DeFi products for the last 3 years. We have built our products while bootstrapping and our goal is to simplify Web 3.0 for the general public and help onboard a billion people to DeFi.
Cryption Network is building a suite of flagship products on top of the Polygon L2 blockchain such as:
PolyDEX – A gasless DEX aggregator on the Polygon and Harmony.
Dapp Factory – A no-code platform providing various project development services for upcoming and leading projects.
Seer Prediction Market – The Seer Prediction market will be a layer 2 solution that will allow reading and creating predictions on virtually any topic.
Cryption Knights NFTs – A collection of NFTs which have over 10 utilities including passive income, governance, allocation to IDOs, etc.
About Yugen
Yugen is not just another yield farming platform. Yugen is a Defi-Yield aggregator which uses other yield projects as a source of income.
